The $100B Club: Blackstone Tops The List Of World's Biggest Fund Managers
Blackstone topped the list of the world’s biggest property fund managers again this year, as the world’s largest firms saw their assets under management soar.
Blackstone saw its assets under management rise by a whopping €41B ($48B) in 2017 to €184B ($214B), according to the annual Fund Manager Survey complied by INREV, ANREV and NCREIF.
To make the top five global property fund managers ranking, firms now need more than €100B ($117B) in assets under management, the survey showed. The top five managers includes Brookfield, PGIM, Hines and TH Real Estate, who all breached the €100B ($116B) mark.
To make the top five in 2015, €60B ($70B) would have been sufficient, and the fact that the big keep getting bigger is further highlighted by the fact that the top 10 managers accounted for 38% of the overall growth shown by the 162 managers surveyed. Overall, the assets under management of the firms surveyed rose 11% from €2.4 trillion ($2.8 trillion) to €2.7 trillion ($3.2 trillion) in 2017.
As in previous years, this survey showed that the bulk of capital was contributed by pension funds — 51.3% in Asia Pacific, 47.3% in North America and 43% in Europe. In Asia Pacific, sovereign wealth funds were the second most significant contributors of capital at 15.6%; while in Europe this slot was held by insurance companies at 31.2%.